President Barack Obama appointed Chuck Hagel for the Secretary of Defense, and he was confirmed by the U.S. Senate the following month. His complete tenure was noted by participation in …show more content…
One of the main responsibilities of this position is collect revenue for the federal government and pay the federal government’s operating bills and financial obligations. In consequences, these two primary duties of the Secretary of Treasure influence drastically on every person’s wellbeing living in the United States, from general population paying taxes to civil servants, military staff, pensioners, and healthcare professionals receiving salaries, benefits or compensations.
Despite these fiscal responsibilities, the Secretary of Treasure is also obliged to control the national banking system. Subsequently, the Treasury Department manages all national banks and special federal savings unions, in addition to the U.S. departments and agencies of foreign banks. Furthermore, the Secretary of Treasure is responsible for producing all currency, collecting taxes, and manages everything related with the budget of the United